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Shares of online direct marketing company Engage Technologies (Nasdaq: ENGA) climbed 2-3/8 to 46-3/8 -- a gain of nearly 5.5 percent -- on Tuesday after the company announced a partnership with online advertising company Flycast. The companies have agreed to deploy Engage's profiling technology across the Flycast Network.
There recently has been speculation on online message boards about CMGI, the parent company of Engage, making a bid to buy Flycast. It is unclear whether such a deal is even a possibility, but Engage's new deal with Flycast is just the latest proof that CMGI is going to make a massive push into online advertising. The folks at Doubleclick have to be a bit concerned.
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